Problem Set 4a

- Rate of GST on essential commodities is . . . Write the correct alternative for each…
- The tax levied by the central government for trading within state is . . . Write the…
- GST system was introduced in our country from . . . Write the correct alternative for…
- The rate of GST on stainless steel utensils is 18%, then the rate of State GST is . .…
- In the format of GSTIN there are . . . alpha-numerals. Write the correct alternative…
- When a registered dealer sells goods to another registered dealer under GST, then this…
- A dealer has given 10% discount on a showpiece of Rs. 25,000. GST of 28% was charged on…
- A ready-made garment shopkeeper gives 5% discount on the dress of Rs. 1000 and charges…
- A trader from Surat, Gujarat sold cotton clothes to a trader in Rajkot, Gujarat. The…
- Smt. Malhotra purchased solar panels for the taxable value of Rs. 85,000. She sold them…
- A company provided Z-security services for the taxable value of Rs. 64,500. Rate of GST…
- A dealer supplied Walky-Talky set of Rs. 84,000 (with GST) to police control room. Rate…
- A wholesaler purchased electric goods for the taxable amount of Rs. 1,50,000. He sold…
- Anna Patil (Thane, Maharashtra) supplied vacuum cleaner to a shopkeeper in…
- For the given trading chain prepare the tax invoice I, II, III. GST at the rate of 12%…

###### Problem Set 4a

Question 1.

Write the correct alternative for each of the following.

Rate of GST on essential commodities is . . .

A. 5%

B. 12%

C. 0%

D. 18%

Answer:

According to Central board of Exercise and customs the rate of GST on essential commodities is 0%

Question 2.

Write the correct alternative for each of the following.

The tax levied by the central government for trading within state is . . .

A. IGST

B. CGST

C. SGST

D. UTGST

Answer:

The tax levied by the central government for trading is Central Goods and Services Tax.

Question 3.

Write the correct alternative for each of the following.

GST system was introduced in our country from . . .

A. 31st March 2017

B. 1st April 2017

C. 1st January 2017

D. 1st July 2017

Answer:

GST system was introduced from 1st July 2017

Question 4.

Write the correct alternative for each of the following.

The rate of GST on stainless steel utensils is 18%, then the rate of State GST is . . .

A. 18%

B. 9%

C. 36%

D. 0.9%

Answer:

According to Central board of Exercise and customs the rate of GST on stainless steels and utensils is 9%

Question 5.

Write the correct alternative for each of the following.

In the format of GSTIN there are . . . alpha-numerals.

A. 15

B. 10

C. 16

D. 9

Answer:

GSTIN has 15 alpha numerals

Question 6.

Write the correct alternative for each of the following.

When a registered dealer sells goods to another registered dealer under GST, then this trading is termed as . . .

A. BB

B. B2B

C. BC

D. B2C

Answer:

The trading when a dealer sells goods to another registered dealer under GST is termed as B2B.

Question 7.

A dealer has given 10% discount on a showpiece of Rs. 25,000. GST of 28% was charged on the discounted price. Find the total amount shown in the tax invoice. What is the amount of CGST and SGST?

Answer:

Printed price = Rs. 25,000

Rate of discount = 10%

Discount given =

Discounted price = (25000-2500) = Rs. 22,500

Rate of GST = 28%

Total GST =

⇒ Total GST =

Total amount shown in the tax invoice = (22500 + 6300) = Rs. 28,800

CGST =

⇒ CGST =

SGST =

⇒ SGST =

Question 8.

A ready-made garment shopkeeper gives 5% discount on the dress of Rs. 1000 and charges 5% GST on the remaining amount, then what is the purchase price of the dress for the customer?

Answer:

Printed price of shirt = Rs. 1000

Rate of discount = 5%

Discount given =

Discounted price = (1000-50) = Rs. 950

Rate of GST = 5%

Total GST =

⇒ Total GST =

Purchase Price = (950 + 47.5) = Rs. 997.50

Question 9.

A trader from Surat, Gujarat sold cotton clothes to a trader in Rajkot, Gujarat. The taxable value of cotton clothes is Rs. 2.5 lacs. What is the amount of GST at 5% paid by the trader in Rajkot?

Answer:

Taxable Value = Rs. 2,50,000

Rate of GST = 5%

Total GST =

⇒ Total amount of GST =

Question 10.

Smt. Malhotra purchased solar panels for the taxable value of Rs. 85,000. She sold them for Rs. 90,000. The rate of GST is 5%. Find the ITC of Smt. Malhotra. What is the amount of GST payable by her?

Answer:

Purchase Price = Rs. 85,000

Rate of GST = 5%

Input Tax(ITC) =

⇒ Input Tax(ITC) =

Selling Price = Rs. 90,000

Output Tax =

⇒ Output Tax =

Payable Tax = (Output Tax-ITC) = Rs. 250

Question 11.

A company provided Z-security services for the taxable value of Rs. 64,500. Rate of GST is 18%. Company had paid GST of Rs. 1550 for laundry services and uniforms etc. What is the amount of ITC (input Tax Credit)? Find the amount of CGST and SGST payable by the company.

Answer:

Input Tax(ITC) = Rs. 1550

Selling Price = Rs. 64,500

Output Tax =

⇒ Output Tax =

Total GST Payable = (Output tax-ITC) = (11610-1550) = Rs. 10060

CGST =

⇒ CGST =

SGST =

⇒ SGST =

Question 12.

A dealer supplied Walky-Talky set of Rs. 84,000 (with GST) to police control room. Rate of GST is 12%. Find the amount of state and central GST charged by the dealer. Also find the taxable value of the set.

Answer:

Let taxable value be x

Rate of GST = 12%

Selling price = Rs. 84,000

⇒

⇒

Total GST charged = (84000-75000) = Rs. 9000

CGST =

⇒ CGST =

SGST =

⇒ SGST =

Question 13.

A wholesaler purchased electric goods for the taxable amount of Rs. 1,50,000. He sold it to the retailer for the taxable amount of Rs. 1,80,000. Retailer sold it to the customer for the taxable amount of Rs. 2,20,000. Rate of GST is 18%. Show the computation of GST in tax invoices of sales. Also find the payable CGST and payable SGST for wholesaler and retailer.

Answer:

Purchase price of wholesaler = Rs. 1,50,000

Purchase price of retailer = Rs. 1,80,000

Purchase price of customer = Rs. 2,20,000

Rate of GST = 18%

Manufacturer’s Tax invoice:

Total GST =

Amount of CGST showed in the invoice of Manufacturer =

Amount of SGST showed in the invoice of Manufacturer =

Wholesaler’s Tax invoice:

Total GST =

(1) Amount of CGST showed in the invoice of Wholesaler =

Amount of SGST showed in the invoice of Wholesaler =

Retailer’s Tax invoice:

Total GST =

Amount of CGST showed in the invoice of Retailer =

Amount of SGST showed in the invoice of Retailer =

(2) CGST payable by wholesaler = (16200-13500) = Rs. 2700

SGST payable by wholesaler = (16200-13500) = Rs. 2700

CGST payable by retailer = (19800-16200) = Rs. 3600

SGST payable by retailer = (19800-16200) = Rs. 3600

Question 14.

Anna Patil (Thane, Maharashtra) supplied vacuum cleaner to a shopkeeper in Vasai(Mumbai) for the taxable value of Rs. 14,000, and GST rate of 28%. Shopkeepersold it to the customer at the same GST rate for Rs. 16,800 (taxable value) Find the following-

(1) Amount of CGST and SGST shown in the tax invoice issued by Anna Patil.

(2) Amount of CGST and SGST charged by the shopkeeper in Vasai.

(3) What is the CGST and SGST payable by shopkeeper in Vasai at the time offiling the return.

Answer:

Amount at which the article was sold by Anna Patil = Rs. 14,000

Rate of GST = 28%

Amount of GST shown in the tax invoice issued by Anna Patil =

(1) Amount of CGST showed in the invoice of Anna Patil =

Amount of SGST showed in the invoice of Anna Patil =

Amount at which the article was sold by the shopkeeper = Rs. 16,800

Amount of GST shown in the tax invoice issued by shopkeeper =

(2) Amount of CGST showed in the invoice of shopkeeper =

Amount of SGST showed in the invoice of shopkeeper =

(3) Amount of CGST payable by shopkeeper = (2352-1960) = Rs.392

Amount of SGST payable by shopkeeper = (2352-1960) = Rs.392

Question 15.

For the given trading chain prepare the tax invoice I, II, III. GST at the rate of 12% was charged for the article supplied.

(1) Prepare the statement of GST payable under each head by the wholesaler, distributor and retailer at the time of filing the return to the government.

(2) At the end what amount is paid by the consumer?

(3) Write which of the invoices issued are B2B and B2C?

Answer:

Rate of GST = 12%

Taxable value for manufacturer = Rs. 5000

Total GST paid by manufacturer =

Total CGST paid by manufacturer =

Total SGST paid by manufacturer =

Taxable value for distributor = Rs. 6000

Total GST for distributor =

Total GST payable = (720-600) = Rs. 120

Total CGST paid by distributor =

Total SGST paid by distributor =

Taxable value for distributor = Rs. 6500

Total GST for retailer =

Total GST payable for retailer = (780-720) = Rs. 60

Total CGST paid by retailer =

Total SGST paid by retailer =

Total Tax = (600 + 120 + 60) = Rs. 780

(1) Statement of GST :

(2) Amount paid by customer = (6500 + 780) = Rs. 7280

(3) The invoices between

• Manufacturer to Distributor:B2B

• Distributor to Retailer:B2B

• Retailer to Customer:B2C